Moniepoint, a Nigerian fintech company, has thrown its weight behind the Federal Government’s digital economy agenda by setting aside a special funding program to support science, technology, engineering, and mathematics (STEM) across Nigeria.
Tosin Eniolorunda, Founder of Moniepoint, through the Tosin Eniolorunda STEM Foundation said he has launched the Future Builders Fund, to support high-potential but under-resourced students across the country.
Eniolorunda said the vision behind the Future Builders Fund is premised in the belief that education is a powerful equalizer capable of turning raw potential into real solutions.
He said: “Every child deserves the opportunity to become the best version of themselves, and socioeconomic barriers should not be a roadblock to mastery and brilliance, We are launching the Future Builders Fund to find and nurture the innovators who will shape Nigeria’s future. This is a way of creating financial happiness leveraging the power of education to help students from low-income and under-resourced backgrounds gain mastery, giving them a fighting chance at being innovative change makers, who will develop life-changing solutions.”
The Future Builders Fund is a scholarship scheme to ensure that no child with potential to excel is left behind as the world races to catch up with emerging technologies such as Artificial Intelligence (AI), robotics, machine learning and many others redefining every facet of human endeavours.
This pilot program is designed to remove financial and structural barriers that prevent promising students from reaching their full potential in science, technology, engineering, and mathematics (STEM) across Nigeria.
The Future Builders Fund will sponsor 14 outstanding students—two per university—across seven federal universities, providing tuition support, hostel accommodation, a laptop, and a monthly stipend. In addition, scholars will benefit from ongoing mentorship and development programs designed to cultivate a solutions-oriented mindset throughout their academic journey.
For the pioneer cohort, the participating federal universities were selected across Nigeria’s six geopolitical zones, including Lagos. They are: Obafemi Awolowo University (OAU), Ile-Ife; University of Nigeria, Nsukka; University of Calabar; University of Abuja; Ahmadu Bello University (ABU), Zaria; University of Maiduguri and University of Lagos.
The scholarship is open to STEM students entering 200 level (i.e., those who have completed 100 level) in the listed universities. Interested applicants are required to submit: Basic bio-data, Academic record (100 level transcript or statement of result) and a personal essay or statement of need
Applicants will be screened based on academic merit, clarity of purpose, and demonstrated need. From each university, the top 10 shortlisted candidates will sit for a standardized test assessing academic ability, critical thinking, and problem-solving skills. The best two candidates per university will be awarded the Tosin Eniolorunda STEM Foundation Scholarship.
The Future Builders Fund is demonstrating a commitment to nurturing talent that can drive national development. Scholarship recipients will be assessed annually and renewal will be based on satisfactory academic performance and demonstrated growth in technical or leadership skills outside the classroom. This ensures the program supports students who are actively applying their knowledge to solve real-world problems.
This pilot edition of the initiative will lay the groundwork for a sustainable five-year, scalable scholarship program that exudes an innovative approach – financial support with mentorship, leadership development, and practical STEM skill application in a manner that can accelerate Nigeria’s cultivation of world-class STEM innovators.
Moniepoint, formerly known as TeamApt, is a prominent Nigerian fintech company that achieved unicorn status (a valuation over $1 billion) after raising $110 million in a Series C funding round in October 2024. Key investors include Development Partners International, Google’s Africa Investment Fund, Verod Capital, and Lightrock.
